The restrictions, to be drafted into law in the coming days, will apply to those involved with ordering or orchestrating the violence in Kiev.
Italian Foreign Minister Emma Bonino said that the EU has also agreed to provide medical assistance and issue a visa to the opposition who have been injured in the unrest, AFP reports.
On his way to catch a plane to China, Carl Bildt tweeted that the EU foreign ministers also strongly support the political efforts of the French, German and Polish foreign ministers who are staying over in Kiev for negotiations with Ukraine President Yanukovich.
After the emergency meeting of EU foreign ministers, Catherine Ashton, the EU's foreign policy head, told the BBC that ministers had expressed their "dismay" at the latest violence and had agreed to "suspend export licences for equipment for internal repression".
Dozens were killed with many more wounded in renewed clashes between government forces and protestors on Thursday.